Sequiam Biometrics (fka SQUM)

[analystslie]

Product sales increased by $584,703 or 551% to $690,904 in 2007, from $106,201 in 2006. This increase was due to our BioVault™ and BioLock products coming to market during the last six months of 2006. Sales of the BioVault™, BioLock, and related components and accessories during 2007 were $515,522 compared to 2006 sales of the prior version of the BioVault™ of $2,295. The increase in revenues during 2007 was also a result of an increase in sales from Constellation Biometrics Corporation from $100,250 in 2006 to $165,574 in 2007, an increase of $65,324 or 65%. Constellation's sales consist primarily of sales of biometric products other than the BioVault™ and BioLock to customers in South Africa. The increase in Constellation's sales is the result of improvements made to the business since new management was put in place subsequent to us acquiring the business in May 2005.